In an update to the previous post, the Fed has left policy unchanged. The US equity market is digesting the news and prices are level. The fed did utter a few words that indicate its bazooka is currently in the closet; and that there is no lock on the door. My interpretation is that the .. read more
This week should be very interesting. The theme today is the ECB followed by the Fed, the BOE and BOJ. Let’s just call it as we see it, the world banking system is in the middle of a liquidity problem. This is stemming from stresses in the European banking sector caused mainly by governments that .. read more
Google shares are currently at their highest level since 2008. Shares of MBIA are also contributing to our Global Opportunities Portfolio.
This could be the busiest week in the US IPO market since 2007. A dozen companies are set to go public, with the energy sector well represented, along with the tech internet sector, according to the latest from Renaissance Capital. Of course, the highest-profile companies set to price are Zynga and Jive Software. Here’s what you .. read more
One of my close peers wanted to discuss Apple this week. He is a big fan of Apple products and is excited that my wife has decided to take the plunge into MacWorld this holiday season on behalf of my two rapidly growing sons. Since we own Apple in our Global Opportunities portfolio, I was .. read more
Heads or Tails. It’s really anyone’s guess to where the markets will be headed over the course of the rest of the year. The last week of trading provided no new insight into the direction that the market will take. While we received “good” news on the European front, it wasn’t enough to propel us .. read more
Once again this week, strong economic data out of the U.S. was obfuscated by the ongoing crisis in Europe. For the week ending December 2nd, initial jobless claims dropped by 23K from 404K down to 381K. This is the lowest reading since February and the second lowest reading since the bankruptcy of Lehman Brothers in September 2008, yet .. read more
Does anyone know what exactly, if anything, was accomplished in Europe last week? Angela Merkel proclaimed the agreement a “breakthrough to the stability union…using the crisis as an opportunity for a renewal.” I suppose that is possible but the devil is in the details which were conspicuous mainly by their absence in the agreement announced .. read more